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Months of waitings for a document or license, or a long queue that makes you suffer a headache or some complicated paperwork. All hints for the problem of government bureaucracy. Bureaucracy, which is a way of managing a large number of people to achieve tasks in public sector agencies, makes the procedure longer putting several steps to complete the task. The bureaucratic approach, it seems, is made to test the patience of citizens.
This whole scenario makes the system inefficient on a larger level, making the citizens frustrated. Well, how blockchain can help here? Looking at the blockchain’s potential, we can hope that the blockchain technology can help to chuck out the unnecessary steps and obstacles which made the process to a slowdown in the system. However, it is early to estimate about the blockchain’s role to reduce bureaucracy.
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Blockchain has proved its capacity in various fields such as supply chain management, healthcare, real estate, shipping, etc. On the other hand, Bureaucracy is a widespread way of operating, as you will hardly see a nation without having any impact of it. Bureaucracy finds its way into the systems whether it is about running a business, making financial transactions or government tender. Bureaucracy, which has a strong foothold in many sectors, will be a challenge for blockchain to deal with it.
Implementation of blockchain :
Blockchain’s main characteristic is its transparency through decentralization. Using these key features, first, blockchain will have to win the trust of the citizens. Many organizations are deploying blockchain technology for their back-office operations to reduce cost and improve profits. Banks also started considering the technology to perform their lengthy and time-consuming operations. Banks expressed that if they optimally apply the technology, it can reduce $20 billion from expenses. The similar kind of implementation may soon enter in the public sector agencies.
Smart Contracts:
Smart Contacts can play a key role to simplify many systems. It can store the information, exchange it and prevent it from any interference. Smart Contacts allows everyone to see the information in the system. Smart Contacts are already being used largely to maintain the records in the real estate sector.
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Moreover, some of the countries are already using blockchain to enhance their system. For instance, China is mulling over its idea to encourage Blockchain startups like the UK. In India, Blockchain is being examined for real estate record keeping in Andhra Pradesh. Countries actively looking to use blockchain solution indicates that blockchain is here to stay, and will transform the significant industries on a massive level.
